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A Subsidiary of NC Rural Center

DREAM BIG

2022 Thread Capital Impact Report

Who We Are

Impact Stories

By the Numbers

Thread Capital, a subsidiary of the NC Rural Center, is a nonprofit, certified community development financial institution (CDFI) focused on providing access to capital, coaching, and connections in the belief that with these tools entrepreneurs will generate more equitable economic mobility in North Carolina. At Thread Capital, we believe everyone in North Carolina who has a viable idea for a business that they want to start or grow, should have the resources they need to thrive. Our mission is to provide capital, coaching, and connections to small businesses who have traditionally had challenges accessing resources. Our specific focus is on small businesses that are owned by people of color, women, low-income individuals, and rural-based individuals. We are committed to creating a more robust, inclusive ecosystem, crafting a new era of entrepreneurship across the state of North Carolina, one that gives everyone an opportunity to achieve their small business dreams.

A Letter from our Executive Director

Thread Capital Partners,

What do you want to be when you grow up? As kids, most of us changed our answers to that question many times. From firefighters to doctors, ballerinas to astronauts, dreams of our future shifted with our interests, age, and ultimately, our abilities and opportunities. 

But who dreams of being an entrepreneur? Typically it’s those who have the courage, determination, and resources to take risks. And importantly, have seen examples of entrepreneurs turning dreams into reality in their own family or community. We know resources aren’t spread evenly and entrepreneurship opportunities follow suit. That’s where Thread Capital comes in. Last year, we funded 72 small business owners at some point on the path to making their dreams a reality and helped hundreds more with coaching and connections. The stories of impact you will read in this report represent some of these dreamers, from a woman who dreamed of owning her own trucking company like her father to parents who dreamed of a more inclusive future for their children, to a woman whose dream started with a hair salon and grew into a dream of spurring more economic activity in her rural community. 

We believe that every entrepreneur’s dream deserves to be met with passionate support whether it be capital, knowledge, or valuable relationships. Every day, our team works with entrepreneurs across North Carolina, to provide the capital, coaching, and connections they need to start or grow their business. Whether it is information, entry to our robust statewide entrepreneurial networks, or funding, we help entrepreneurs take steps toward realizing their dreams.

Entrepreneurial North Carolinians proved their resilience, drive, and determination during these recent challenging years. Thread Capital has been privileged to partner with so many of them and to have a front-row seat as they make their big dreams come true. We are grateful for our partners, funders, and supporters who also recognize the value of small businesses and who join us in celebrating all who dream big!

With gratitude,

Jonathan Brereton
Executive Director, Thread Capital

Client Success Stories

Ashley Gorham – Roanoke Rapids

From Hair Salon Owner to Landlord, How Ashley Gorham is Fulfilling her Dream of Growing her Community

Read more

Demetria Rosser – Littleton

From the Ground up – Demtria Rosser’s  Dream of Building her Trucking Business

Read more

TECpark – Burlington

Wells Fargo’s support of small business loans helps resilient minority-owned recreation facility fulfill mission of inclusion

Read more

OUR TOTAL IMPACT (2022)

  • 72LOANSTOTAL NUMBER
    OF LOANS MADE
$3,239,636
TOTAL AMOUNT OF
LOAN FUNDS DISTRIBUTED
$44,995 AVERAGE LOAN SIZE
26.4%  COVID-AFFECTED
BUSINESSES
4.2% HURRICANE-IMPACTED BUSINESS
69.4%  SMALL BUSINESS
LOANS
26.4%  COVID-AFFECTED
BUSINESSES
4.2%  HURRICANE-IMPACTED
BUSINESS
69.4%  SMALL BUSINESS
LOANS
  • 56%
  • WOMEN
  • 40 LOANS
  • $1,027,295
  • 56%
  • BLACK OR
    AFRICAN-AMERICAN
  • 40 LOANS
  • $1,251,333
  • 6%
  • LATINO OR
    HISPANIC
  • 4 LOANS
  • $48,722
  • 7%
  • VETERAN
  • 5 LOANS
  • $294,910
  • 36%
  • RURAL
  • 26 LOANS
  • $931,378

LIFE OF THE PROGRAM

1,511 TOTAL LOANS
$82,226,610 TOTAL DOLLARS

SMALL BUSINESS LENDING (2022)

Thread Capital continues to provide small businesses loans up to $100,000 to traditionally underserved entrepreneurs in North Carolina. This allows Thread to fill the biggest gap in the current small business lending marketplace, the affordable small dollar loans that people of color, low-income individuals, and rural communities have the most difficulty gaining access to.

  • 50 LOANS

    TOTAL NUMBER OF LOANS MADE

  • $1,310,582

    TOTAL AMOUNT OF
    LOAN FUNDS DISTRIBUTED

  • $26,212

    AVERAGE
    LOAN SIZE

  • SMALL BUSINESS LOAN DEMOGRAPHICS

    • 23 LOAN $606,378
    • RURAL
    • 33 LOAN $818,495
    • WOMEN
    • 33 LOAN $909,107
    • BLACK OR AFRICAN-AMERICAN
    • 4 LOAN $48,722
    • LATINO OR HISPANIC
    • 2 LOAN $78,000
    • RURAL

Loan recipients can fall into one or more of these categories. Dollar amounts listed above represent total loans administered within the demographic.

RESILIENT RECOVERY LENDING (2022)

From the mountains to the coast, hurricane season can affect small businesses across North Carolina. In the last fiscal year, Thread Capital’s Resilient Recovery products were able to assist small businesses with short- and long-term solutions to the effects of natural disasters.

  • 3 LOANS

    TOTAL NUMBER
    OF LOANS MADE

  • $390,610

    TOTAL AMOUNT OF LOAN FUNDS DISTRIBUTED

  • $130,203

    AVERAGE LOAN SIZE

  •  

  • RESILIENT RECOVERY LOAN DEMOGRAPHICS

    • 2 LOANS

      $300,000

    • RURAL
    • 1 LOAN

      $90,610

    • BLACK OR

      AFRICAN-AMERICAN

    • 2 LOANS

      $140,610

    • VETERAN

Loan recipients can fall into one or more of these categories. Dollar amounts listed above represent total loans administered within the demographic.

NC COVID-19 RAPID RECOVERY (2022)

In March of 2020, Thread Capital worked with the NC Rural Center to design and execute the NC COVID-19 Rapid Recovery Loan Program. A collaboration of eight nonprofit lenders, with the support of the Golden LEAF Foundation and a variety of other partners, it was designed to assist small businesses and family farms affected by the coronavirus pandemic. This past fiscal year, Thread assisted small businesses in need as they navigated the uncertainty of the pandemic. Thread led the consortium of eight CDFIs with a disbursement of over $56 million dollars.

  • 19LOANS

    TOTAL NUMBER OF LOANS MADE

  • $1,538,444

    TOTAL AMOUNT OF LOAN FUNDS DISTRIBUTED

  • $80,971

    AVERAGE LOAN SIZE

  • COVID-19 RAPID RECOVERY LOAN DEMOGRAPHICS

 

    • 1 LOAN

      $25,000

    • RURAL
    • 7 LOANS

      $208,800

    • WOMEN
    • 6 LOANS

      $251,616

    • BLACK OR

      AFRICAN-AMERICAN

    • 1 LOAN

      $76,300

    • VETERAN

Loan recipients can fall into one or more of these categories. Dollar amounts listed above represent total loans administered within the demographic.

To find out more about how the NC COVID-19 Rapid Recovery Loan Program has helped business owners across North Carolina, visit their website.

Thank you to our 2022 Funders and Supporters